Steele Reese Foundation 561
Steele Reese Foundation maintains strong assets and reports zero officer compensation amidst fluctuating but growing revenue.
EIN: 136034763 · Chicago, IL · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $24.3M |
| Total Expenses | $2.6M |
| Program Spending | 90% |
| Net Assets | $31.9M |
| Transparency Score | 90/100 |
Is Steele Reese Foundation 561 Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Steele Reese Foundation 561 directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Steele Reese Foundation 561
Steele Reese Foundation 561 (EIN: 136034763) is a nonprofit organization based in Chicago, IL. The organization reported total revenue of $24.3M and total assets of $36.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steele Reese Foundation 561's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Steele Reese Foundation 561 is a large nonprofit that has been operating for 67 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.6M |
| Total Expenses | $2.6M |
| Surplus / Deficit | +$2.0M |
| Total Assets | $31.9M |
| Total Liabilities | $1 |
| Net Assets | $31.9M |
| Operating Margin | 43.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 146.9 months |
Financial Health Grade: A
In 2023, Steele Reese Foundation 561 reported a surplus of $2.0M with revenue exceeding expenses, holds 146.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Steele Reese Foundation 561's revenue has grown at a compound annual growth rate (CAGR) of 8.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +61.7% | +4.4% | +6.4% |
| 2022 | -16.4% | -11.3% | +1.3% |
| 2021 | +89.9% | +42.6% | +2.1% |
| 2020 | -16.7% | -15.9% | -0.6% |
| 2019 | -8.1% | +45.9% | +0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1959 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Steele Reese Foundation 561 with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Steele Reese Foundation 561 allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $2.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Steele Reese Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size and asset base.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Steele Reese Foundation 561's IRS 990 filings:
- Unusually high 'Latest Revenue' figure ($24,268,700) compared to historical annual revenues without explanation, potentially indicating a one-time event or reporting anomaly.
- Lack of NTEE code makes it difficult to benchmark against similar organizations.
- Consistent reporting of $1 in liabilities for recent years is unusual and may indicate a placeholder or minimal operational debt.
Strengths
The following positive indicators were identified for Steele Reese Foundation 561:
- Strong and growing asset base, currently at $36,510,346, indicating long-term financial stability.
- Consistent reporting of 0% officer compensation, suggesting a high dedication of funds to mission or volunteer leadership.
- Healthy surplus of revenue over expenses in recent years (e.g., $4,631,727 revenue vs. $2,606,442 expenses in 2023).
- Minimal liabilities ($1 or $0 reported historically) indicating sound financial management and low debt.
Frequently Asked Questions about Steele Reese Foundation 561
Is Steele Reese Foundation 561 a legitimate charity?
Steele Reese Foundation 561 (EIN: 136034763) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 90/100. It has 10 years of IRS 990 filings on record. Total revenue: $24.3M. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Steele Reese Foundation 561 spend its money?
Steele Reese Foundation 561 directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Steele Reese Foundation 561 tax-deductible?
Steele Reese Foundation 561 is registered as a tax-exempt nonprofit (EIN: 136034763). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Steele Reese Foundation 561's spending goes to programs?
Steele Reese Foundation 561 directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Steele Reese Foundation 561 located?
Steele Reese Foundation 561 is headquartered in Chicago, Illinois and files with the IRS under EIN 136034763.
How many years of IRS 990 filings does Steele Reese Foundation 561 have?
Steele Reese Foundation 561 has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $24.3M in total revenue.
How does the Steele Reese Foundation achieve its mission without paying officer compensation?
The filings consistently show 0% officer compensation, suggesting that leadership may be entirely volunteer-based or compensated through other means not categorized as 'officer compensation' on the 990, or that the foundation operates with minimal direct staff, relying on grants to other organizations.
What is the primary source of the Steele Reese Foundation's significant revenue increase to $24,268,700?
The provided data shows a substantial jump in 'Latest Revenue' to $24,268,700, which is significantly higher than any annual revenue reported in the filing history (e.g., $4,631,727 in 2023). This could be due to a large one-time donation, a significant investment gain, or a change in reporting structure not detailed in the provided summary.
What is the NTEE code for the Steele Reese Foundation, and why is it not listed?
The NTEE code is not provided in the given data. This code helps classify the organization's primary purpose. Its absence makes it harder to compare the foundation's financial metrics and operational focus with peer organizations.
Filing History
IRS 990 filing history for Steele Reese Foundation 561 showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Steele Reese Foundation 561's revenue has grown by 153.2%, moving from $1.8M to $4.6M. Total assets increased by 12.6% over the same period, from $28.3M to $31.9M. Total functional expenses rose by 3.5%, from $2.5M to $2.6M. In its most recent filing year (2023), Steele Reese Foundation 561 reported a surplus of $2.0M, with revenue exceeding expenses. The organization holds $1 in liabilities against $31.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $31.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.6M | $2.6M | $31.9M | $1 | — | View 990 |
| 2022 | $2.9M | $2.5M | $30.0M | $1 | — | View 990 |
| 2021 | $3.4M | $2.8M | $29.6M | $1 | — | View 990 |
| 2020 | $1.8M | $2.0M | $29.0M | $1 | — | — |
| 2019 | $2.2M | $2.3M | $29.2M | $1 | — | View 990 |
| 2015 | $2.4M | $1.6M | $29.0M | $0 | — | View 990 |
| 2014 | $3.2M | $2.3M | $29.4M | $0 | — | View 990 |
| 2013 | $1.9M | $2.4M | $28.5M | $0 | — | View 990 |
| 2012 | $3.7M | $2.7M | $28.9M | $0 | — | View 990 |
| 2011 | $1.8M | $2.5M | $28.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.6M, expenses of $2.6M, and assets of $31.9M (revenue +61.7% year-over-year).
- 2022: Revenue of $2.9M, expenses of $2.5M, and assets of $30.0M (revenue -16.4% year-over-year).
- 2021: Revenue of $3.4M, expenses of $2.8M, and assets of $29.6M (revenue +89.9% year-over-year).
- 2020: Revenue of $1.8M, expenses of $2.0M, and assets of $29.0M (revenue -16.7% year-over-year).
- 2019: Revenue of $2.2M, expenses of $2.3M, and assets of $29.2M (revenue -8.1% year-over-year).
- 2015: Revenue of $2.4M, expenses of $1.6M, and assets of $29.0M (revenue -26.8% year-over-year).
- 2014: Revenue of $3.2M, expenses of $2.3M, and assets of $29.4M (revenue +71.3% year-over-year).
- 2013: Revenue of $1.9M, expenses of $2.4M, and assets of $28.5M (revenue -49.2% year-over-year).
- 2012: Revenue of $3.7M, expenses of $2.7M, and assets of $28.9M (revenue +102.1% year-over-year).
- 2011: Revenue of $1.8M, expenses of $2.5M, and assets of $28.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Steele Reese Foundation 561:
Data Sources and Methodology
This transparency report for Steele Reese Foundation 561 is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.